December 2020 — ISSUE 20
Included in this quarter's record grantmaking is $5,135,000 distributed to nearly 200 local nonprofits through the Summit County COVID-19 Emergency Relief Grant Program, a partnership of Akron Community Foundation, the County of Summit and Summit DD. The program, which was announced earlier this fall, is providing federal CARES Act funding to 501(c)(3) organizations throughout Summit County that meet the basic needs of underserved county residents, as well as to nonprofits in the arts and culture sector.
Akron Community Foundation recently awarded $584,000 in competitive grants to support health and human service needs in Summit County. This funding includes a $6,000 grant to Empower Her Network to support and empower local survivors of human trafficking by removing housing barriers, providing financing education, and uncovering employment opportunities.
From the CARES Act to the SECURE Act to other changes impacting tax law, there is a lot to consider before making your year-end charitable contributions. Download our free year-end giving kit that outlines strategic tips, important legislation and timely reminders for your 2020 philanthropic activities. And be sure to consult with your advisor about the most tax-advantageous gifts for your situation.

Akron Community Foundation recently welcomed four new funds to its growing family of more than 690 charitable funds. The Richard S. Wagner Memorial Swimming Scholarship Fund was established by the Wagner family to provide postsecondary scholarships for Firestone CLC seniors who have participated in the swimming and diving programs.
Check out our new issue of The Signal for the latest news from Akron Community Foundation, including:
  • Philanthropy's role in diversity, equity and inclusion
  • Why you should consider bigger charitable gifts from your IRA in 2020
  • News from our board members, staff and fundholders
By: James J. Lanham & Roger D. Proper Jr.
With a $25,100 standard income tax deduction in 2021 for couples filing a joint return, many taxpayers will no longer receive any tax relief for charitable deductions. One solution is to create a Charitable Lead Annuity Trust and make a large contribution to the CLAT. This results in an up-front large charitable deduction, annual charitable gifts to the charities you regularly support, and assets passing to your family at the end of the trust term. Eat your cake and have it too!
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Akron Community Foundation 
345 W. Cedar St., Akron, OH 44307

Office Hours: 9 a.m. to 5 p.m., Monday through Friday
Phone: 330-376-8522 
Fax: 330-376-0202